Vancouver CMA Construction Data for all Housing Types
Year 2018 is the first time since 2013 where we have seen "Housing Completions" exceed that of "Housing Starts" in Vancouver CMA.
In 2013, Housing Completions exceeded Housing Starts for only brief period of time and did not decrease the number of homes Under Construction.
However, 2019 will very likely follow the trend where Housing Completions will exceed Housing Starts as developers continue to shy away from the Vancouver market. Year 2019 will appear much like 2008-2009 when housing starts fell off the cliff from 20,000+ to 8,300 as the developers ran as fast they could during the last housing recession.
Housing starts have fallen from 26,204 in 2017 to 23,404 already in 2018. In 2019, don't be surprised to see housing starts fall 15-40% year-over-year.
Historical Annual Vancouver Housing Starts
* Source: CMHC
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